telephone booth

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Telephone Booth

Informal; a cubicle containing a telephone on the New York Stock Exchange. Member firms use these telephones to take orders for trade, which are then executed on the trading floor. Members then use the telephone booth to communicate the trade back to a client. With the advent of Blackberries and other personal digital devices, some members have begun using these instead of the telephone booths.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

telephone booth

One of several telephone-containing cubicles located around the perimeter of the trading floor of the New York Stock Exchange. Telephones in these booths are used by member firms to receive orders that are to be executed on the floor. Once the orders have been executed, the telephones are used to transmit information back to the members' offices.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.